Cannabis Sale of $230 Million Stuns Industry

If you’ve been wondering what’s going on with Broken Coast, the news may come as a shock that Aphria Inc. bought out Broken Coast. Most have noticed that Broken Coast has not been producing products, however, this would be the reason as to why.

This deal has acquired to at least $230 Million based on shares and cash. While Broken Coast had been looking to sell it was an initial shock for how much Aphria Inc. bought the Ladysmith cannabis grower.

Travis Lane of the B.C. Independent Cannabis Association had this to say, “They were actually relatively small, so for them to get such a huge windfall as private owners is indicative of where the cannabis market is at.”

Other growers are looking towards infusing into the industry, and this was the approval they had least expected. At least for that amount of profit.

Marijuana plants in soil under indoor grow lights

Right now these large cannabis companies may be swallowing up smaller companies in the beginning. Since cannabis is becoming recreational on a legal level, many small time growers may be looking to cash out instead of staying in the game. Solely based on large companies offering a hefty sum.

Aphria Inc. is also merging DOJA Cannabis Company with Ontario-based Tokyo Smoke. So Aphria seems to be building a strong network and continues to collect smaller companies within their mergers.